Arizona Coyotes Lease With City Of Glendale To End After 18-Year Run

The City of Glendale has decided to not renew its lease with the Arizona Coyotes, reported AZ Family. The lease will end after the 2021-2022 season, which means that the team will need to find a new home.

According to city officials, Glendale will be focusing on larger events at Gila River Arena and the Westgate Sports and Entertainment District.

The City said in a news release that it told the NHL that this year would be the team's last, after an 18-year run. Both the city and the team have been operating on a year-to-year basis.

Kevin Phelps, city manager, said, "The decision to not renew the operating agreement with the Coyotes was not made overnight or in a vacuum. We carefully weighed input from key stakeholders, our expert economist, our arena management firm, and our City Council."

According to Phelps, an economist determined the city will need to hold at least 20 events with more than 10,000 people in attendance to make up for the financial impact losing the Coyotes will have.

President and CEO of the Arizona Coyotes Xavier Gutierrez said in a statement:

"We are disappointed by today's unilateral decision by the City of Glendale to break off negotiations on a multi-year lease extension agreement. We are hopeful that they will reconsider a move that would primarily damage the small businesses and hard-working citizens of Glendale. We remain open to restarting good-faith negotiations with the City. Most importantly, the Coyotes are one hundred percent committed to finding a long-term arena solution here in Arizona, and nothing will shake our determination to do what is right for our organization, residents of the entire Valley and, most important, our fans."